Due to the Easter holidays, monthly contracts have not been yet been finalized in the Italian scrap market. However, some steelmakers have asked for price reductions, and market sources have told SteelOrbis that this month prices will decrease slightly compared to the high levels that were reached in March. According to the sources, this month domestic scrap prices in Italy will decrease by €5-10/mt due to local supply exceeding demand, and also due to the slack international market, with import scrap prices decreasing in Turkey since mid-March.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
260-265 ($320-326/mt) |
|
HMS (E1/E3) |
275-285 ($338-351/mt) |
|
Shredded scrap (E40) |
305-315 ($375-387/mt) |
|
Busheling (E8) |
310-315 ($381-387/mt) |
Prices include delivery and exclude VAT.
€1 = $1.23